Morgenthau Heads Israel
$500,000,000 Bond Issue
The Government of Israel will
seek to raise $500,000,000 in the
next three years through the
sale 'of bonds in the United
states, it was announced at the
first meeting of the board of
governors of the American Fi-
nancial and De-
velopment Cor-
poration for Is-
rael, which was
established to
conduct the Is-
rael bond drive.
Henry Mor-
genthau, Jr., in
whose adminis-
Morgenthau t r a tion as
Secretary of the Treasury more
than 50 billion dollars in United
States bonds were sold, was
named chairman of the board.
Among t h e other principal
participants at the organizing
meeting of the board of the new
Israel bond organization were
Abba Eban, Israel Ambassador
to the United states, and James
G. McDOnald, who has served as
American Ambassador to Israel
from the first days of its inde-
pendence.
Julian B. Venezky of Peoria,
who has served as chairman of
the-national Campaign Cabinet
of the United Jewish Appeal,
was. chosen chairman of the ex-
ecut,ive committee of the bond
organization.
Greeting the new Board of
Governors, Finance Minister
Eliezer Kaplan declared that the
Israel bond issue was necessary
"to assure the continuation of
large-scale immigration and to
promote the economic stability
of the State of Israel."
The Board of Governors of
the newly created American
Financial and Development Cor-
poration. for Israel, consists of
100 outstanding American busi-
ness .and community leaders, it
was announced by Henry Mon--
tor, its chief executive officer.
Abe Kasle of Detroit is one of
the board members.
The importance of the bond
issue for Israel's future eco-
nomic development and for the
absorption of 600,000 new im-
migrants in tne - next three
years, was stressed by Ambassa-
dor Eban and Ambassador Mc-
Donald.
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the - country where the Ameri-
can Financial and Development
Corporation for Israel will es-
tablish branch offices.
The $500,000,000 which it is
proposed be raised through the
bond issue in the United tSates
is part of the $1,500,000,000
three-year e c o n o mic develop-
m e n t program proposed by
Prime Minister Ben-Gurion last
September and ratified by
American Jewish leaders at the
National Planning Conference
in Washington at the end of
October 1950. Of this total,
$1,000,000,000 is to be obtained
in the United States, h al f
through the bond issue and the
rest through philanthropic con-
tributions to the United Jewish
Appeal, private investments-and
grants-in-aid from the United
States.
On the Record
United Hebrew Schools
Dedicates New Library
The formal opening of the
youth library of the United He-
brew Schools, which was do-
nated by the Ladies Auxiliary of
Kvutzah Ivrith, Hebrew Cultural
Group of Detroit, will take
place at 8:30 p.m., Tuesday at
the Rose Sittig Cohen Bldg.
auditorium.
Theodore Baruch will speak
on "The Place of the Book in
the Life of Our People." Also on
the program will be a recitation
of one of Bialik's poems by An-
nie Guyer, greetings by Ed
Kroll, members of the high
school and Estelle Ring, of the
elementary department.
Rhoda Zahavi will sing suit-
able musical selections. The
program will end with a recep-
tion given by the Ladies Auxili-
ary. The public is invited ,and
there will be no solicitation of
funds.
By NATHAN ZIPRIN
(Copyright, 1951, Jewish Telegraphic Agency, Inc.)
Heard and Recorded
The story of how a Communist member of the Israeli Parlia-
ment helped solve a religious problem is being widely told in the
Jewish state. Dr. Joseph Burg, Knesset deputy, had yahrzeit for his
father. Unable to go to a synagogue he tried to form a minyan
within the Knesset building.. But he could find only nine men, one
short of the required number. Rushing into the Knesset cafeteria
in quest for a tenth man, he found the Communist deputy M.
Vilner seated at a table reading a newspaper. Since religious laws
do not differentiate between a capitalist and communist . in such
matters, Dr. Burg invited Vilner to the services. The communist
deputy accepted the invitation, borrowed a yarmulke from one
of the men and joined the minyan in afternoon services.
Potpourri
Years ago Anna Rosenberg worked for the UJA. Her imme-
diate superior was not pleased with her work and he reported to
his superiors that Anna was incompetent. As a result of that
report she was fired. • Today she is Under-Secretary of Defense.
Julius Stulman, prominent Brooklyn Jewish industrialist and
philanthropist, left for the Far East in the interest of the Point
Four program.
Harvey Schwamm, banker and Republican, is about to assume
chairmanship of the board of the Jewish Morning Journal, New
York Yiddish daily.
* olt
ale
BEGINS MONDAY JANUARY 15th
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Ambassador McDonald
characterized t h e economic
progress of Israel as a "mod-
ern miracle" which requires
for its continuance "only the
continuance of the flow of
vital agricultural and other
machinery and materials from
the West."
Observing that the govern-
ment of Israel is striving for
"closer relations with the
West," Mr. McDonald said
that "these ties will prove of
mutual advantage because Is-
rael and the united States
can. hope to prosper only in .a
free world."
SPORT SHIRTS
now 4.87
now 5.47
now 6.87
now 7.47
now 7.87
now 8.87
Were 5.95
Were 6.95
Were 7.95
Were 8.95
Were 10.00
Were 10.95
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NECKWEAR
now 1.69 - 3 for 5.00
now 2.39 -.- 3 for 7.00
now 339 - 3 for 10.00
Were 2.50
Were 3.50
Were 5.00
Among the members of the
board a r e: Samuel Goldwyn,
motion picture producer, L o s
Angeles; Lewis S. Rosenstiel,
president of Schenley Indus-
tries, New York; Mrs. Dorothy
Schiff, publisher of the New
Yqrk Post; Jacob Blaustein of
Baltimore, president of the
American Trade and Production
Corporation and president of
the American Jewish Commit-
tee. '
It is contemplated that after
registration with the Securities
and Exchange Commission, the
bonds will be offered to the
public through the Jewish com-
munities in the various parts of
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SLACKS
All Wool Gabardine and Flannels
Were 16.95
Were 18.95
Were 21.95 to 27.50
now 12.87
now 14.87
now 18.87
No Charge for Alterations
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Council, Center Offer
Jewish Music Festival
On Sunday, Feb. 25, the Joint
Yiddish Culture Committee of
the Jewish Community Council
and the Jewish Center will pre-
sent its Jewish Music Festival,
featuring Cantor Saul Meisels,
the Center Dance Group and
Herbert Sorkin, in a prograin of
Yiddish songs and dances. in
the auditorium of the Woodward
Jewish Center.
Tickets are n o w available
through the Yiddish-speaking
organizations, the Center, and
the Council.
THE JEWISH NEWS-3
Friday, January 12, 1951
LEISURE & SPOUT COATS
Were 19.95
Were 22.95
Were 35.00
now 14.87
now 18.67
now 28.67
Special Group
Were up to 45.00
now 26.87
No Charge for Alterations
Open Daily
ALL SALES
9:30 to 9
FINAL
Sundays
Dexter at Tyler
THIS SALE, AT D1EXTER STORE ONLY
•
10:00 to 3
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